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How Does Rent to Own Work? The Process and the Pros and Cons – Up-front Costs. Rent to own is different than a lease option, which gives you the option to buy a place you were renting before it goes on the market, but there’s no obligation to do so. When you rent to own you usually make a deposit, which can also be called "option money," and the contract stipulates your obligation to buy.
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How Rent to Own Works: A Guide – How Rent to Own Works Rent to own, also know as lease to own or lease-option, is an alternative to traditional renting or buying. You could even think of it as a fusion of both, since rent to own is basically just leasing a home until you become eligible to buy it.
How Does It Work? – renttoownmyhome.com – How Does a Lease Option or Rent-to-Own Work? A lease option works like this: The buyer and seller agree to an option which gives the buyer the right to purchase the home during a set period of time.